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The price is federal and the shape is provincial. Since January 2025 the federal criminal interest rate regulation limits a payday loan to $14 for every $100 borrowed, including every fee, and no province can sit above it. Saskatchewan sets the rest: a payday loan can be no more than $1,500 and no more than half your take-home pay, must run less than 62 days, and can be cancelled until the end of the next business day; you can hold only one loan at a time, the lender cannot charge a fee to roll over, refinance or extend it, default interest is capped at 30% a year on the amount in default with one NSF charge of no more than $25 per agreement, and every lender providing payday loans to Saskatchewan residents must be licensed with the FCAA. Borrow $500 and you repay $570 on your pay date; borrow $300 and you repay $342.
| Saskatchewan rule | What it means for you |
|---|---|
| Cost cap | $14 for every $100 borrowed, every fee included |
| Largest loan | $1,500, and no more than half your take-home pay |
| Longest term | Under 62 days |
| Cancelling | Until the end of the next business day, at no cost |
| A second loan | Not while the first is open; no fee to roll over or extend |
| Late | Default interest of no more than 30% a year on the amount in default; one NSF charge of up to $25 |
| Licence | Every payday lender serving Saskatchewan must be licensed with the FCAA |
| On $500 | You repay $570 |
Four in the Smarter Loans network, from $100 to $1,500, every card at the $14 cap because the cap sets the price. All four lend online, so the application, the decision and the e-transfer happen from your phone, from Estevan to La Ronge; all four pay out within 24 hours of approval and one within the hour. Three set no minimum credit score and one considers poor credit; income minimums run from $1,000 to $1,500 a month depending on the lender. Every payday lender in the network is on the payday loans in Canada page.
$14 per $100 for two weeks. A short-term loan of $500 over three months at the 35% federal cap costs about $29 in interest, and the payments are spread. The payday loan is cheaper only if you repay it in full on the date; Saskatchewan does not let it roll over, so the moment you cannot repay, the cheaper product is the one you should have taken. The personal loans in Saskatchewan page lists the ten personal lenders that serve the province, priced by APR or by a flat fee rather than by the payday cap, and one application reaches both kinds.
On our platform in the first half of 2026, Saskatchewan residents made 4.0% of everyday-scale applications under $1,500 across Canada and asked for $463 on average. Use that to check your own amount: a request around $450 is the ordinary case, and borrowing the bill rather than the limit is the single cheapest decision, because the fee scales with every $100.
Regular income of at least $1,000 to $1,500 a month depending on the lender, from any source that arrives on a fixed date; a bank account it is paid into; your online banking login, because the decision is made on your statements and the repayment is taken from the same account; and a Saskatchewan address. No interview, no employment letter, and with three of the four no minimum score. Apply before your bank's e-transfer cutoff and the money can arrive the same afternoon.
Reviewed by Rafael Rositsan, Co-Founder and CEO, Smarter Loans. Last reviewed 25 September 2026. Lender figures are the lenders' published terms as checked August 2026; the short-term comparison is illustrative. Platform figures cover applications from 1 January to 30 June 2026.
A lender can charge no more than $14 for every $100 borrowed, including every fee, under the federal criminal interest rate regulation in force since January 2025. Borrow $500 and you repay $570 on your next pay date.
The province caps a payday loan at $1,500 and at half your take-home pay, for a term under 62 days, and the lenders listed lend from $100.
Yes. You have until the end of the next business day to return the money and cancel at no cost, and a lender cannot charge you a fee to roll over, refinance or extend a loan.
Yes. Every lender providing payday loans to Saskatchewan residents must be licensed with the FCAA, and a lender that cannot show its licence is not a lender to use.
If you cannot repay in full on your next pay date, yes: a short-term loan of $500 over three months at the 35% cap costs about $29 in interest against $70 for the payday loan, and one application reaches both kinds of lender.
